This paper develops a two-country model of international migration in an attempt to study the role of both qualitative and quantitative restrictions on international labor mobility. Individuals are distinguished in terms of their ability and age, enabling the model to examine factors that...

Guest-worker programs have been providing rapidly growing economies with millions of temporary foreign workers over the last couple of decades. With the duration of stay strictly limited by program rules in most of the host countries and wages paid to guest workers often set at sub-market...

In this paper, the effects of a transfer on the intertemporal terms of trade are examined in the context of a simple two-country, two-period model. When intertemporal trade occurs because the two economies have different rates of time preference, a transfer improves the terms of trade of the...

This paper investigates the effects of a temporary change in government expendit ure on private consumption and investment. The model employed is one of a closed economy populated by infinitely-lived, utility-maximizing individuals. The analysis focuses on the implications of alternative...